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  3. a loan of \\( \\$ 4000 \\) is being repaid at \5 e

A loan of \\( \\$ 4000 \\) is being repaid at \5 effective annual interest...

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Accounting

image A loan of \\( \\$ 4000 \\) is being repaid at \5 effective annual interest rate by level annual payments of \\( \\$ 300 \\). Compute the outstanding loan balance just after the 15th payment. a) 1569 b) 1666 c) 1771 d) 1473 e) 1842

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